: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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05-10-2013, 04:06 PM
Join Date: Jul 2010
Originally Posted by
If there's no team, there's no arena. So ignoring the reason behind all this constitutes cherry picking.
There is no risk involved in this project. It's going to make money for both Katz and the City. And of course you assume the city is stealing $500M for the project.
There was a team with local investors before Katz bought it, they didnt have money to invest in an arena but as Katz is showing you dont need any!
As for risk involved in this deal there is tons for the city. They've committed to investing as much money as they expect to gain from downtown revitalization created by the arena. If those projections fall short the city loses.
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